Punj Lloyd sells entire stake in Simon Carves Engineering

Punj Lloyd Ltd today said that its arm Pt Engineering Limited has sold its entire stake in UK-based Simon Carves Engineering to Engineers and Constructors International Inc for USD 2 million.

"Pt Engineering Limited, subsidiary of the Company has sold its entire shareholding in its wholly owned subsidiary registered in United Kingdom viz Simon Carves Engineering Limited to Engineers and Constructors International, Inc," Punj Lloyd said in filing to BSE.

"The buyer is Engineers and Constructors International, Inc. A design and engineering company belonging to the Mitsui Group, it is based out of Baton Rouge, Louisiana, US," the filing said.